The Company currently owns the remaining 50% of Delta Egg Farm, so the entity will become a wholly owned subsidiary of the Company.
Pursuant to this agreement, Cal-Maine Foods will purchase the membership interests for a total of $17.0m.
Delta Egg Farm owns and operates a feed mill and egg production complex with capacity for approximately 1.2 million laying hens, located near Delta, Utah, and an organic egg production complex with capacity for approximately 400,000 laying hens located near Chase, Kansas.
The Company expects to close the transaction effective 1 March 2014.
Source: Cal-Maine Foods
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